Australia is racing towards a record in beef exports.

Australia's Beef Exports Reach Record Levels

As the year comes to a close, Australia has achieved a new record in beef exports. Thanks to rising U.S. demand and stable exports, beef shipments reached 1.4 million tons in the first 11 months of 2023, representing a 15% increase compared to the same period last year.

The U.S. is Australia’s Largest Export Market

According to data from Meat & Livestock Australia (MLA), despite a 10% tariff on the American cattle herd, the U.S. continues to be Australia’s largest beef customer. Following the tariff imposed by the Donald Trump administration, rising prices for American red meat and a decrease in herd numbers have increased import demands for Australian beef. Trump’s promise to reduce import taxes in November further strengthened this demand.

Strong Demand Reported from International Markets

MLA notes that the demand from the U.S. is strong and lasting. “Even during the tariff period, the extraordinary strong demand from the U.S. supported Australian beef exports,” it stated.

Significant Growth in the Asian Market

As of November, beef exports to the U.S. rose by 17% to 412,000 tons. In the Chinese market, this figure reached 243,000 tons, marking a 43% increase. Additionally, Japan and South Korea have emerged as other significant markets with demand.

Production Increase Expected in Coming Years

According to MLA data, Australia’s beef production could set a new record in 2025. Although ongoing drought in the southeast of the country has reduced herd numbers, the increase in global demand is expected to help Australia gain a strong position by 2026.

MLA International Markets General Manager Andrew Cox stated, “Global beef demand is rapidly increasing, and Australia is well-positioned to take advantage of this momentum.”